Cable & Wireless up 56% in January

Cable & Wireless has climbed to a new 52 weeks high of 25 cents and is up 56 percent for the year to date. In fact, the last time the stock closed at 25 cents goes back to March 29th, 2011.

The stock climbed 47 percent since January 14th, when it closed at 17 cents. What’s going on? Why has the stock climbed so far ahead of the December’s quarterly results? IC Insider understands that between May and November, 250,000 new cellular customers were added to the network and new customers continue to be added at the same pace. In addition, the Christmas promotion went well with some phones sold off ahead of December and most of the phones sold involved data plans.

This suggests a hike in revenues for the December. Going forward, it could could translate to billions of dollars in increased revenue per annum for the company.

Part of the company’s stock run up is due to the reduced number of stocks that were available for sale. The order book ahead of trading on Thursday showed only two sell orders, one at 30 cents to sell 60,531 units and the other at 35 cents for 1,038,266 shares. On the buy side there are a number of orders but not as high as 25 cents with bids for 1,164,952 units at 22 cents, 3,060,149 shares at 20 cents and 562,202 units at 18 cents, the next meaningful bids are at 16 cents for 4,657,764 shares.

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